Lou Reed leaves fortune to his family

3 years ago

The "New York Post" says the iconic rocker's will was filed in a New York court on Monday. In the document he leaves the majority of his multi-million-dollar estate to his wife, Laurie Anderson.

She's inheriting their Manhattan apartment and their $1.5 million Hamptons home, along with all of Reed's possessions, his touring company, and three-quarters of his fortune.

Reed is leaving the remaining 25% to his only sister, along with a request that she use some of the money to care for their 93-year-old mother. In addition, Reed's sister and her kids will receive what's left of Lou's estate once Anderson passes. Reed's lawyer James Purdy tells the "Post" that "it all stays in the family."

The late rocker has also named his longtime business manager and his accountant as his estate's trustees, and has given them the authority to collect royalties, sign contracts, and handle other business dealings. Reed signed the document in April 2012.